Xencor (NASDAQ:XNCR) Trading Down 9% – Here’s Why

Xencor, Inc. (NASDAQ:XNCR) traded down 9% during mid-day trading on Friday . The stock traded as low as $26.08 and last traded at $26.28. 524,370 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 888,908 shares. The stock had previously closed at $28.88.

Analyst Ratings Changes

A number of analysts have commented on the company. Wall Street Zen raised Xencor from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 8th. Royal Bank Of Canada raised their price objective on Xencor from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Truist Financial decreased their target price on Xencor from $29.00 to $27.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. JPMorgan Chase & Co. increased their price target on shares of Xencor from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Finally, Wedbush lifted their price objective on shares of Xencor from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Xencor has an average rating of “Hold” and an average price target of $24.86.

Xencor Stock Down 9.1%

The stock has a market cap of $1.95 billion, a PE ratio of -12.10 and a beta of 0.85. The business has a 50 day moving average price of $19.54 and a 200 day moving average price of $14.69.

Xencor (NASDAQ:XNCR) last announced its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.80) by $0.51. The company had revenue of $51.22 million during the quarter, compared to analysts’ expectations of $18.89 million. Xencor had a negative return on equity of 28.66% and a negative net margin of 155.59%.Xencor’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the business earned ($0.41) earnings per share. On average, research analysts predict that Xencor, Inc. will post -3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Xencor

Institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its stake in shares of Xencor by 118.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,568 shares of the biopharmaceutical company’s stock valued at $44,000 after purchasing an additional 3,018 shares during the period. Allworth Financial LP acquired a new position in shares of Xencor during the 2nd quarter worth approximately $55,000. E Fund Management Co. Ltd. acquired a new position in shares of Xencor during the 2nd quarter worth approximately $79,000. iSAM Funds UK Ltd purchased a new position in shares of Xencor during the 2nd quarter valued at approximately $122,000. Finally, Prelude Capital Management LLC purchased a new position in shares of Xencor during the 3rd quarter valued at approximately $139,000.

About Xencor

Xencor, Inc is a clinical-stage biopharmaceutical company focused on the design and development of engineered protein therapeutics for the treatment of autoimmune diseases, cancer and neurological disorders. The company applies its proprietary XmAb® platform to manipulate antibody structure and function, creating molecules with enhanced immune engagement and extended half-life. Xencor’s research programs span a range of therapeutic modalities, including monoclonal antibodies, bispecific antibodies and cytokine-based fusion proteins.

The XmAb® platform enables precise modification of the Fc region to augment key properties such as receptor binding, effector function and pharmacokinetics.